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20121202
20121210
Search Results 0 to 22 of about 23 (some duplicates have been removed)
recovering from devastation caused by superstorm sandy. >> i think the most likely explanation here is sandy's impact was significant but was so short-lived that it didn't extend to the sample period of the employment report which was the week that covered november 12. >> reporter: hiring was also supposed to be weak due to worries about the fiscal cliff. with $600 billion in automatic tax hikes and government spending cuts set to start next yer, why aren't more firms postponing hiring decisions? >> what we're hearing from businesses is that it is really hard to actually pull back hiring right now, because they've already fired so many workers, gotten so lean that it's really difficult. >> reporter: but not all the surprises in the report were good. at 7.7%, the unemployment rate hit its lowest level since december 2008. but that was mostly due to people giving up their search for work. and there's another disappointing trend, weak wage growth. >> what we are not seeing is strong income generation. the slowing in wage gains-- the weak bargaining power of labor comes across in this report and
after super-storm sandy wreaked havoc along the new jersey shore, president obama met today with governor chris christie at the white house. the topic-- federal aid for storm recovery. the president is expected to ask congress for about $50 billion in additional emergency assistance. ruben ramirez is in seaside heights, new jersey, where business owners are striving to recover. ruben? >> reporter: thanks, tom. yes, nearly six weeks after super-storm sandy devastated this barrier island off the coast of new jersey, there's still a curfew in place. a lot of the traffic you see behind me is a lot of those longtime residents from the island and business owners who have bn going back day in and day out, trying to recover and repair whatever's left. some of those business owners we had a chance to speak to today. they say they'll reopen come next summer. >> you've kbchb in business 33 years, have you seen this sort of devastation before. >> no, nothing like this. we-- that's the reason we stayed because they were explaining that there was going to be a terrible storm. but we, of t
after tax losses related to superstorm sandy will total roughly $1.3 billion. that's the latest from the fox business network, giving you the power to prosper lauren: welcome back. time for a quick speed read of some of the day's other headlines, five stories one minute. first up the e.u. strongest member showing weakness. germany's central bank cutting its growth forecast saying german gdp will likely only expand 4% next year down from the previous estimate of 1.6%. >>> california attorney general suing delta air lines distributing the fly mobile app without a privacy policy. first in the state legal action under the online privacy law. >>> india is hoping to open big box retailers like wal-mart. they say foreign companies can own a 51% stake in retailers for the first time. >>> they uncovered a drug smuggling tunnel 39 feet below ground and ran 131 feet and equipped with ventilation and electricity systems. >>> 50 shades of gray, announcing at ceo holiday party, every employee getting a $5,000 bonus to celebrate a profitable year. that is today's speed read. i have time to say that
% analysts were looking for. superstorm sandy having an impact as well. customers in the northeast headed to dealerships with insurance checks in hand giving them so-called wealth effect. we have the foxnews.com automotive editor with sandy ace impact on car sales and overall industry check as well. great to see you. >> you too. lori: talk about sandy. we saw cars literally floating out to see. you automatically thought this would be a boon for the auto industry. what was your take? >> definitely helped. there were 200 to 250,000 cars destroyed. not quite that many were sold last month but played into the increase we saw to a certain extent. used car sales were not up as much. true car.com estimating 4%. lori: give the time of year i was reading that the storm and length of time on average people holding onto the cars is like 11 years is actually giving support to overall car prices. can you comment on that? >> yes. sales, transaction prices were up. so were incentives. so kind of balanced itself a little more. people are spending more on cars. shoving a lot of technology into them. you c
was on an island shooting "survivor." >>> after heading to d.c. to ask for aid for superstorm sandy damage, chris christie explains his change of heart to president obama days after the storm and days before the presidential election. check out what he told jon stewart on "the daily show." >> people have different skill sets at different times. >> i see. so he wasn't a leader until you needed leadership. >> maybe until -- maybe until he was presented with an opportunity to lead. >> all right. >> critics call it a step towards union busting. protests against a proposed new labor law in a state known for organized labor. we are live from michigan next. >>> and call it man versus python. the state of florida needs your help to kill thousands of massive reptiles. why does this sound like it may not end well? they're about 10 times softer and may have surface pores where bacteria can grow and multiply. polident is specifically designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toot
to convert to a roth ira? we will weigh in on that next. ashley: superstorm sandy sparking a business boom for one wisconsin generator company. jeff flock is live with that story. first, some of the winners and losers. ♪ le announcer ] where do you turn for legal matteters? at legalzoom, we've created a better place to handle youregal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to aner any questions. get started at lalom.com today. and now you're protected. ashley: superstorm sandy causing devastation for many americans. massive power outages sparked a booming business for one wisconsin company. jeff flock has more. jeff: whenever there is a huge economic recovery in this c
as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's start with bigger of the two deals. freeport's purchase of plains. approximately $6.9 billion in total now. it's a cash and stock deal. .6531 shares and 39 bucks a share in cash. that adds up to $50 a share. that's a fairly significant premium when we look at where pxp, that being the ticker symbol in
. >>> an improving economy and superstorm sandy turn out to be a boone for the automakers. >> one automaker did not beat expectations in terms of november auto sales. the automaker who fell short of estimates was general matter, an increase of 3.4%. 2% below what the street was expecting. some important stories that came out today from the auto industry. let's start with ford. 6.5% increase. the company today raising its production in north america for the first quarter by 11% up to 750,000. the most they have produced in the first quarter since 2006. general motors may cut production of its truckline because of bloated inventory. they're at 139 day supply. you want that down around 85 day supply. bmw and mini are on track to post best u.s. sales ever. today they increased 39% for the month of november. shares of automakers, despite positive news from ford, they were all down today. so, that's the latest with the automakers. by the way, we're expecting the monthly sales pace to come in above $15 million. we'll get that number here shortly. >> interesting story there. a lot of numbers moving up.
initial claims. they say it's a sign nearly all of the effects of superstorm sandy on the labor force have evaporated. this report comes a day before the government releases its closely watched job survey. there are reports that hiring sank last month because of sandy. >>> a new study shows if taxes go up on upper-income americans, the passage of proposition of 3 -- of proposition 30, raised the tax rate for california's highest income earnser -- earners to 13.3%. if the bush cuts expire at the end of the year, that would brick the overall tax rate for higherners in rainfall -- high earners to 51%. >>> this afternoon, president obama will visit a family in northern virginia. he will be talking about the importance of congress extending tax cuts for middle- klaas americans. it's all -- middle-class americans. it's tall about taking action to avoid the fiscal cliff by the end of the month. >>> back here, san jose police investigating a dadly hit and run. last night a man believed to be in his 50s was killed while crossing the intersection at white and kimby roads. he's the -- qwimby roads. t
of superstorm sandy cuts into earnings by six cents. four square cracked the top three in mobile apps rankings. according to a report, the new york based software company landed behind only facebook and twitter in theerankings. that's the latest from the fox business network giving you the power to prosper. ♪ dennis: more out of egypt. protesters lighting fires, an estimated 50,000 marchers. roiters reported that president morsi left the palace in the face was protests, left the residence, and protesters broke through police lines, and pulled back after the tear gas. thousands protesting morsi's declaration giving him nearly unrestricted powers. cheryl: west coast minute. upddte on a story we followed for you. the ports of los angeles and long beach shut right now as clerical workers enter the second week of striking. ten of the 14 terminals are shut because dock workers refuse to cross the picket line. ships idling outside waiting to be cleared to enter with some diverted now to panama. the national retail companies asking the white house to intervene. the fine for texting and driving may g
superstorm sandy had an effect i can't tell you. what i can tell you is that this is a preliminary december read and all comps i'm giving you are final reads. this will change in a couple of weeks. on the surface, not a very good number. the response in the marketplace, not a huge response at this point but remember the market still trying to digest real from memory with regard to actual positives of the jobs report and it's a weekend. back to you. >> thanks a lot, rick. rick santelli. it does sort of point to a market that some argue is overly hedged. the rallies that nobody believes and firm on bad news as some say. >> the only thing i know is if you have capital losses, don't take them this year. more valuable next year. maybe that's why hewlett packard is going up. people aren't selling losers because they are worth more to sell next year against higher capital gains. >> have a great weekend. >> football. football. >> a great day. when we come back, a pair of exclusives on "squawk on the street." whirlpool ceo on jobs, the economy, the cliff and of course his company's red hot stock and
superstorm sandy. find out at 8:30 a.m. eastern. and cut! very good. o geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >>> welcome back to "squawk box" everyone. the futures right now are at this point right around the flat line. we had seen the dow futures up by 15 points or so, it's come back down but probably a lot of people waiting to see what happens in washington because it's been driving trading for several weeks. >>> honda is expecting within two years it will export more vehicles than it imports from japan. the company says the factories will take on a larger role in global product development at that point. >>> all right, i've been wanting to ask larry some specific questions and i'm going to do it now because actually some of the stuff you talk about doug oberhelm, you teach economics, you're an economic sage so the mantra and we heard it again that if we could get rid of the, which is hard, but is the obama's administration resi
the november employment report at 8:30 eastern time. the job numbers are expected to be depressed by superstorm sandy. >>> we'll get instant analysis when the report comes out. >>> plus, a motor city makeover. >> what does opportunity look like? it looks like detroit. >> guest host dan gilbert on his efforts to revitalize detroit as the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc. first in business worldwide. i'm joe kernen along with becky quick and steve liesman and andrew ross sorkin is off for one more day. our guest host dan gilbert, founder of quicken loans and owner of the cleveland cavaliers. we'll talk about a lot this hour but the big 50 is the november jobs report. it comes out at 8ky there. the dow jones news wire poll of forecasters, we thought this was so interesting we wanted to get a reaction shot of you. did you see how long you were on? we wanted you to -- we wanted a lot -- we wanted angst, we wanted suspense and disappointment. >> how did i do? >> i don't know. we were waiting for something. >> i didn't know i was on. >> you wer
of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that were supposed to be part of a bankruptcy filing. >>> the game of political chicken, we were looking to rise above the partisan politics and trying to get something done. david walker, ceo of the america comeback initiative, steve mcmahon, co-founder of purple strategies, you guys have been on for a while and we've talked about a lot of things. steve, just 1:30 ag ago, you made a point talking about the bush tax cuts. and i said the tax cuts have been near and dear and you said at least bush was smart enough to know that we couldn't afford them so they were sunseted. >> so they were sunseted. >> that may happen. in fact, that may be the way that everybody gets to save face bec
Search Results 0 to 22 of about 23 (some duplicates have been removed)